Trend 17: Increasing 1 to 1 Marketing

Jan 24, 2011 Comments Off by

Marketing is moving from the mass to the individual, with more accountability and micro-targeting based on the actions, responses and behaviors of users. Relationships still matter, and many businesses get it wrong.

1 to 1 Marketing requires more than just running a good Customer Relationship Management (CRM) system, and it does not remove the need for you and your team to build, maintain and service strong person-to-person relationships.

In this increasing 1 to 1 environment, you can manage mass relationships more effectively at both a local and global level using the technology tools to assist with the scale and growth of business. You can have the ability to remotely communicate and market your business, products and services with each customer as an individual.

Sadly, many businesses get it wrong. They don’t take the time or effort to learn the techniques that are effective, and often don’t use technology tools very effectively either.

They don’t keep customer profiles up to date, and don’t engage effectively with the customers in their communications. Many businesses have multiple customer databases, and can’t easily access to a single view of the customer’s history.

In a 1 to 1 environment, messages are tailored to individuals, not just with personalization but to make sure that all communication is relevant, timely and valuable. Non-personal, non-relevant, non-valuable mass communications may not even get noticed in the clutter and noise surrounding your customers’ daily lives.
 
 

Customer Service Costs Increase

Even with smart technology systems, managing 1 to 1 relationships with all of the individuals in your customer database will generally be more time-consuming than mass communication with them. Customer service costs increase, and the business Return On Investment (ROI) may not be obvious.

More organizations are trying automated processes in their marketing to reduce costs of relationship servicing. This requires good processes, good copywriting, good execution and good follow-up, but more importantly requires a sincere approach to improve customer service levels rather than just reduce the costs of providing service. Most businesses get this wrong as well.
 
 

Trackability and Accountability

In the 1 to 1 Marketing world, almost everything about the customer is trackable and accountable. You could track every click your customer makes on your website, emails and other Internet-based communication pieces.

Statistical analysis reports can be produced for every important stage in your sales funnel and pipeline. Every stage, every click!

You are not just able to track the actions and reactions of each individual customer; now you can track the effectiveness of your advertising messages to each individual customer.

Every advertisement, email and online promotional message is trackable and accountable when it is delivered online rather than traditional marketing in the mass media.

This is, of course, much to the delight of online advertising companies who can deliver cost-effective results; and it is much to the commercial annoyance of the less competitive and almost unaccountable traditional advertising sales media.
 
 

Trust is Key

In the digital age, as in the traditional world, recommendations, referrals and business introductions must be based on trust to be effective.

For a new supplier, trust is hard to build but easy to destroy. The endorsement of a recommended new supplier by an already trusted supplier can work well as many online affiliate sales programs have shown.

Relationships are critical to 1 to 1 Marketing, and trust is critical to good relationships. Don’t risk breaking trust by having a confused or careless approach to your marketing, your customer service, your databases or your handling of your customer’s information.
 
 

Questions To Ponder

  1. How much of your marketing and advertising is to the masses? Why?
  2. How good are your customer relationships? How do you know?
  3. What do you know about your customers?
  4. What parts of your customers’ behavior do you track? What would you like to track?
  5. How accurate, up-to-date and comprehensive is your customer database?
  6. Could you use your customer database more effectively?

 

Go to next trend: Increasing Aggregation of Information

Go to previous trend: More 100% Fit Products in Global Niches

 

Strategies & Roadmap, The Big Picture, Trends
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